WELCOME TO MY RESEARCH PAGE
Name = "Dr. Mark H. Liu"
titles = ["Associate Professor of Finance",
"Director of MS Finance Program"]
Contact_Info = {"Phone":"1-859-2579842",
"Email":"mark.liu@uky.edu"}
books = (Learn Generative AI with PyTorch (Manning 2024),
Machine Learning, Animated (CRC Press 2023),
Make Python Talk (No Starch Press 2021))
RESEARCH INTERESTS
My research interests are mainly related to machine learning, corporate financing decisions,
financial institutions, and strategic decisions of financial analysts.
Topics include IPOs, mergers and acquisitions,
corporate restructuring (spin-offs, carve-outs, etc.), capital structure,
corporate governance, payout policy, and strategic behavior of financial institutions and financial analysts.
PUBLICATIONS
Mutual Fund Preference for Pure-Play Firms, Journal of Financial Markets, Forthcoming.
Dividends vs Stock Repurchase and Long-Run Stock Returns Under Heterogeneous Beliefs, Review of Corporate Finance Studies 2021, p578-632.
How Should a Firm Go Public? A Dynamic Model of the Choice between Fixed-Price Offerings and Auctions in IPOs and Privatizations, Review of Corporate Finance Studies 2019, p42-96.
Organizational Form and Corporate Payout Policy, Journal of Financial and Quantitative
Analysis 2018, p789-813.
Corporate Disclosure, Analyst Forecast Dispersion, and Stock
Returns, Journal of Accounting, Auditing,
and Finance 2016 (lead article), p1-20. (with Ashiq Ali, UT
Dallas, Tong Yao, University of Iowa, and Danielle Xu, Gonzaga University)
Growth Opportunities, Short-Term Market Pressure, and Dual-Class
Share Structure, Journal of Corporate
Finance Vol 41, 2016, p304-328. (with Brad Jordan, University of Kentucky,
and Soohyung Kim, University of Wisconsin-LaCrosse)
A Theory of Capital Structure, Price
Impact, and Long-Run Stock Returns under Heterogeneous Beliefs 2015
Review of Corporate Finance Studies
Vol 4, p258-320. (with
Onur Bayar, UT San Antonio, and Thomas Chemmanur, Boston College)
Industry Information and the 52-Week High
Effect 2015 Pacific-Basin
Finance Journal 32, 111-130. (with Brad Jordan, University of Kentucky,
and Xin Hong, Zhejiang University)
Corporate Payout Policy in Dual-Class Firms 2014 Journal of Corporate Finance 26, 1-19
(lead article). (with
Brad Jordan, University of Kentucky, and Qun Wu, SUNY Oneonta)
Do Investment Banks Listen to Their Own Analysts? 2012 Journal of Banking and Finance 36,
1452-1463. (with
Brad Jordan, University of Kentucky, and Qun Wu, SUNY Oneonta)
A Theory of Equity Carve-Outs and
Negative Stub Values under Heterogeneous Beliefs, 2011 the Journal of Financial Economics 100, 616-638. (with
Onur Bayar, UT San Antonio, and Thomas Chemmanur, Boston College)
Analysts
Incentives to Produce Industry-Level versus Firm-Specific Information, 2011 the Journal of Financial and Quantitative Analysis 46, 757-784. (single-authored)
Does
More Information in Stock Price Lead to Greater or Smaller Idiosyncratic Return
Volatility? 2011 Journal of
Banking and Finance 35, 1563-1580. (with Dong Lee, Korea University)
Institutional
Trading, Information Production, and the Choice between Spin-Offs, Carve-Outs,
and Tracking Stock Issues, 2011 Journal of Corporate Finance 17, 62-82.
Anti-takeover Provisions in Corporate Spin-offs, 2010 Journal of Banking and Finance 34,
813-824. (with Thomas Chemmanur, Boston College, Brad Jordan, University of
Kentucky, and Qun Wu, SUNY Oneonta)
Stock Splits as a Manipulation
Tool: Evidence from Mergers and Acquisitions,
2008 Financial Management 37, 695-712.
"Buy-side Analysts, Sell-side Analysts, and
Investment Decisions of Money Managers," 2006, the Journal of Financial and
Quantitative Analysis 41, 51-83.
WORKING PAPERS